An award-winning South Wales manufacturing company is set to see its revenue skyrocket to GBP 6M thanks to exports after securing several deals following growing demand for its products across the globe.
Newport-based Tomoe Valve, which manufactures high-performance butterfly valves, is on track to boost its exports by 20% to GBP 6M by the end of this financial year, following a string of international deals recently secured with support from the Welsh Government.
The company is eyeing expansion in the US as a primary route to international growth, having recently landed a GBP 1.6M contract with a US government funded project in Washington state. The deal will see up to 80 valves installed at largest factories for advanced silicon battery materials which are primarily used in the production of electric vehicles, buses, trucks, consumer electronics, and electric flight – a fast-growth market as global decarbonisation targets come into sharper focus.
Most recently, Tomoe Valve’s products have also been used to develop the UK’s first fully electric fire engine.
In recent months, Tomoe Valve secured a substantial order worth almost GBP 1M in Japan for butterfly valves that will be used in water treatment facilities, which sees the firm effectively re-enter the Japanese market after six years of smaller, ad-hoc orders.
Originally, the company worked principally across the oil and gas sectors, however, in more recent years Tomoe Valve has pursued an intentional diversification strategy as investment in fossil fuel energy sources is set to decrease. Exports currently account for 90% of the Welsh manufacturer’s trade, with its products sold in over 57 countries across North America, Asia, Europe, South America, and the Middle East.